Louisiana Workers’ Compensation Program Expediting Dividend
BATON ROUGE – From the Louisiana Press Association:
LWCC’s board of directors announced today that they are expediting the distribution of the company’s annual dividend in response to the Covid-19 crisis. LWCC’s purpose is to help Louisiana thrive and in this time of adversity, the workers’ comp insurance company will do so by putting $86 million back into the state’s econom
Approximately 20,000 businesses across Louisiana will receive a dividend check. These businesses employ over 165,000 Louisiana workers. All payments are scheduled to be mailed on or before April 10.
“LWCC’s ability to make this distribution is due to safety initiatives and efforts by policyholders and agents, which led to a low incident rate, as well as continued excellence in execution by the company’s employees,” said LWCC President and CEO Kristin Wall. “Through partner ship from our agents, we are confident we can positively impact Louisiana businesses and workers by supporting the economic stability of the state. Our citizens and businesses are resilient, and together we will get through this.
”Over the last 17 years, LWCC has returned $934 million to Louisiana businesses through the company’s dividend program. As a mutual insurance company, LWCC is able to share profits with policyholders when it achieves strong financial results.”
“LWCC’s vision is to be a catalyst for elevating Louisiana’s position in America and we will continue to explore ways in which we can help Louisiana thrive in this time of need,” said LWCC Board Chairman Angele Davis. “LWCC is proud to be Louisiana Loyal and hopes to see Louisiana-based businesses continue to do what they can to support this great state now and always.”